Auto Sales Climb In May, GM Gains Despite Recalls

Jun 3 2014, 9:48am CDT | by

May was a winner for U.S. automakers as Chrysler, Ford Motor and General Motors each reported upbeat monthly sales figures Tuesday.

“[O]ur dealers reported brisk May sales over five weekends and the Memorial Day holiday,” said Chrysler’s U.S. sales chief Reid Bigland, after the Fiat-controlled automaker sold 194,421 vehicles in the month, a 17% increase from a year earlier. Chrysler projects industry-wide U.S. sales for May at a seasonally adjusted annual rate of 16.9 million, That would be the best year since 2006.

Trucks were the driving force for Chrysler, up 38% versus a 27% year-over-year decline for the company’s car brands. Year-to-date, Chrysler sales are up 13% from the comparable period in 2013.

Ford said its sales rose 3% in May to 254,084, more than expected for the company’s best May in a decade. The company sold more than 20,000 Ford Explorers for the first time since 2005, with the brand’s sales up 21% from a year ago. Sales of F-series trucks, which include the F-150, were down 4.3% in May. Overall, Ford’s vehicle sales are down slightly in 2014, running at a pace 0.9% below that of a year ago.

GM, meanwhile, recorded a 12.6% sales increase in May, well above expectations, even as it deals with the fallout from a slew of safety-related recalls in recent months. Chevy sales rose 14% and overall the company said May was its best sales month since August 2008, when the company was spiraling toward bankruptcy.

“The momentum we generated in April carried into May, with all four brands performing well in a growing economy,” said GM’s VP of U.S. sales Kurt McNeil. The company estimated the industry’s annual sales pace at 16.5 million in May and also noted that its incentive spending was down from a year ago.

Read Joann Muller’s feature on Mary Barra and the mission to fix GM’s latest flaws from the latest issue of Forbes.
/>

Shares of Ford opened higher Tuesday morning, up 1.3%, while GM gained 1.6%. The stock market has clearly preferred Ford to its bigger Detroit rival this year, with shares of the former up 8% as GM has fallen 13% amid its recall woes. Meanwhile, U.S.-listed shares of Chrysler parent Fiat are up 26% in 2014.

GM data by YCharts

Follow @SchaeferStreet

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

IPad Air Giveaway 2014 is Online
IPad Air Giveaway 2014 is Online
Our sister site I4U News is giving away a brand new iPad Air or if you can wait an iPad Air 2. This is an $499 value.
 
 
Your Parent Or Kid Moved In: Are You Covered?
A record 57 million Americans now live in multigenerational family households — double the number in 1980, according to a new Pew Research Center study. And I bet many of them have the wrong homeowner’s or renters...
 
 
Pandora Looks to Challenge Terrestrial Radio's Dominance in Cars
Pandora Media is one of the largest Internet radio providers in the U.S. with more than 75 million active users. While the company’s active user count has increased at a robust pace historically, it is likely to slow...
 
 
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
It’s January 2026. New York Yankees owner Hal Steinbrenner gets out of his driverless car and triumphantly marches before the gathered press to introduce his prized new free agent. It’s a record-breaking contract—over...
 
 
 

Latest from the Network

Iranian hardliners form 'chastity patrols'
Tehran, Sep 19 (IANS/EFE) "Chastity patrols", created by an Iranian paramilitary group, are patrolling the streets of Iran to force women to go "well covered" in public. At the beginning of summer, trendy Iranian...
Read more on Politics Balla
 
Sophia Loren celebrates 80th birthday with an exhibition
Los Angeles, Sep 19 (IANS) Italian actress Sophia Loren, who will turn 80 Saturday, will celebrate her birthday with an exhibition displaying her most prized possessions in Mexico. The Oscar winner's belongings,...
Read more on Celebrity Balla
 
Liam Neeson scared of heights
New York, Sep 19 (IANS) Actor Liam Neeson may be known as a action star, but there is one thing that terrifies him: Heights. The 62-year-old actor admits he suffers from acrophobia and can't even manage to stand on a...
Read more on Celebrity Balla
 
Jeptoo targets history in Chicago Marathon
Nairobi, Sep 19 (IANS) History will be beckoning for Boston Marathon champion Rita Jeptoo of Kenya when she lines up at the Chicago City course for the 42km race Oct 12. Jeptoo is chasing her maiden win in the World...
Read more on Sport Balla
 
UN urges diplomatic accord on Iran's n-programme
United Nations, Sep 19 (IANS) UN Secretary-General Ban Ki-moon has urged a comprehensive agreement on Iran's nuclear programme at an early date. Ban made the appeal at a meeting Thursday with visiting Iranian Foreign...
Read more on Politics Balla
 
Bieber, Gomez moving in together?
Los Angeles, Sep 19 (IANS) Singer Justin Bieber has reportedly asked his girlfriend Selena Gomez to move into his house here. As per a report in hollywoodlife.com, Bieber, who rekindled his romance with Gomez recently...
Read more on Celebrity Balla
 
Smoking causes urological diseases
Vienna, Sep 19 (IANS) Smoking leads to a number of urological diseases, experts said. Reduced fertility, impotence, and bladder carcinoma are problems caused by smoking, the Association of Austrian Urologists (BVU)...
Read more on Business Balla
 
Lily Allen shares tips for applying eyeliner
London, Sep 19 (IANS) Singer Lily Allen may have popular make-up artists taking care of her looks, but she knows it takes practise to perfect the art of applying eyeliner. In an interview with Now magazine, she said "...
Read more on Celebrity Balla
 
Baek readies himself for Asia-Pacific Golf Championship
Tokyo, Sep 19 (IANS) Korea's Baek Seuk-hyun is relishing the prospect of teeing up against some of the best players from the Asian Tour and Japan at next week's Asia-Pacific Open Golf Championship Diamond Cup....
Read more on Sport Balla
 
'No losers, only partners with Afghan unity government'
United Nations, Sep 19 (IANS) Head of the UN Assistance Mission in Afghanistan (UNAMA), Jan Kubis said there is "no better way forward" other than a unity government in the crisis-torn country. "There is no better way...
Read more on Politics Balla